Last 47 quarters of trend data · Basic Materials · Steel
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -3.77 | — | — | — | — | — | — | — | — | 916.07 | — | — | 7.51 | 6.16 | — | — | 11.61 | 3.40 | 5.33 | 3.22 | 2.13 |
| — | — | — | — | — | — | — | — | — | +14767.0% | — | — | -35.3% | +81.2% | — | — | +446.3% | -26.2% | -92.6% | -87.6% | — | |
| P/S Ratio | 0.35 | 0.26 | 0.24 | 0.38 | 0.32 | 0.19 | 0.22 | 0.26 | 0.33 | 0.36 | 0.54 | 0.50 | 0.35 | 0.36 | 0.45 | 0.41 | 0.31 | 0.32 | 0.72 | 0.54 | 0.45 |
| — | +33.8% | +10.2% | +43.5% | -3.0% | -46.5% | -59.2% | -47.6% | -7.8% | -0.5% | +20.7% | +23.0% | +14.8% | +12.8% | -38.0% | -23.8% | -31.5% | -46.6% | +1.5% | -25.1% | +15.9% | |
| P/B Ratio | 0.88 | 0.92 | 0.79 | 1.03 | 1.05 | 0.63 | 0.63 | 0.66 | 0.84 | 0.99 | 1.50 | 1.27 | 0.96 | 1.07 | 1.21 | 1.03 | 0.96 | 1.16 | 2.59 | 1.99 | 2.53 |
| — | +47.1% | +26.2% | +56.1% | +24.9% | -36.7% | -58.3% | -47.8% | -12.5% | -7.6% | +24.1% | +23.4% | +0.1% | -7.4% | -53.3% | -48.4% | -61.9% | -59.0% | -21.9% | -5.3% | +10.7% | |
| P/FCF | — | 18.36 | — | — | — | — | — | — | — | 5.04 | — | 5.69 | 3.29 | 2.85 | — | 7.89 | 6.07 | 3.19 | 14.42 | 3.18 | 2.02 |
| — | — | — | — | — | — | — | — | — | +76.8% | — | -27.9% | -45.8% | -10.8% | — | +148.3% | +200.4% | -63.0% | — | — | -52.7% | |
| EV / EBITDA | — | 11.77 | 60.03 | 140.86 | 31.20 | — | — | — | — | 11.42 | 19.30 | 25.37 | 4.96 | 4.30 | 16.52 | 50.57 | 6.73 | 2.91 | 3.97 | 3.19 | 2.14 |
| — | — | — | — | — | — | — | — | — | +165.9% | +16.9% | -49.8% | -26.3% | +47.4% | +316.5% | +1487.4% | +215.0% | -14.1% | -63.5% | -76.2% | -86.5% | |
| EV / EBIT | — | 48.49 | — | — | — | — | — | — | — | 42.43 | 1235.17 | — | 7.63 | 5.84 | 183.42 | — | 11.94 | 3.57 | 4.72 | 3.62 | 2.38 |
| — | — | — | — | — | — | — | — | — | +626.5% | +573.4% | — | -36.1% | +63.6% | +3785.8% | — | +401.5% | -9.9% | -82.6% | -84.7% | -93.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -4.1% | 3.7% | -1.7% | -4.4% | -1.0% | -4.2% | -8.4% | -6.3% | -2.3% | 3.2% | 5.5% | 3.3% | 8.6% | 10.8% | 1.9% | -1.2% | 6.2% | 15.5% | 21.0% | 23.8% | 29.6% |
| — | +188.1% | +80.3% | +29.8% | +57.3% | -233.1% | -254.1% | -292.1% | -126.6% | -70.4% | +193.2% | +376.3% | +39.1% | -30.5% | -91.1% | -105.0% | -79.2% | -34.8% | +194.9% | +121.2% | +303.5% | |
| Operating Margin | -7.3% | 0.3% | -4.2% | -7.5% | -3.7% | -10.1% | -11.6% | -10.8% | -5.7% | 0.1% | -0.7% | -2.0% | 5.8% | 8.1% | -0.6% | -3.6% | 3.3% | 13.3% | 18.4% | 20.9% | 27.5% |
| — | +102.7% | +63.8% | +30.6% | +34.4% | -8668.1% | -1490.1% | -449.6% | -197.8% | -98.5% | -24.8% | +45.8% | +75.3% | -39.1% | -103.2% | -117.2% | -88.0% | -37.3% | +320.3% | +341.3% | +1089.7% | |
| Net Margin | -7.9% | -2.8% | -4.8% | -5.6% | -5.3% | -9.8% | -10.7% | -10.3% | -5.3% | 0.0% | -1.3% | -3.0% | 4.7% | 5.8% | -1.1% | -4.2% | 2.7% | 9.4% | 13.5% | 16.7% | 21.2% |
| — | +71.7% | +55.0% | +45.5% | -0.1% | -25008.9% | -729.8% | -240.9% | -212.5% | -99.3% | -19.7% | +28.5% | +75.2% | -38.3% | -108.0% | -125.4% | -87.3% | -39.2% | +1228.4% | +488.8% | +3592.9% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -22.4% | -2.4% | -3.8% | -4.0% | -4.3% | -7.7% | -7.4% | -6.4% | -3.3% | 0.0% | -0.9% | -1.9% | 3.2% | 4.4% | -0.7% | -2.8% | 2.1% | 8.8% | 12.9% | 17.7% | 29.7% |
| — | +68.2% | +48.1% | +36.8% | -27.7% | -28663.0% | -759.3% | -237.7% | -203.3% | -99.4% | -19.6% | +32.3% | +51.9% | -50.0% | -105.6% | -115.8% | -92.8% | -56.5% | +931.3% | +482.7% | +3433.2% | |
| ROA | -7.2% | -0.7% | -1.2% | -1.2% | -1.2% | -2.3% | -2.4% | -2.4% | -1.4% | 0.0% | -0.4% | -0.9% | 1.5% | 1.9% | -0.3% | -1.1% | 0.8% | 3.0% | 4.1% | 4.8% | 7.1% |
| — | +69.2% | +50.1% | +49.1% | +14.2% | -20088.0% | -514.8% | -172.0% | -198.8% | -99.4% | -26.4% | +21.8% | +89.8% | -37.3% | -107.4% | -123.1% | -89.2% | -32.9% | +1613.6% | +851.2% | +6139.8% | |
| ROIC | -7.0% | 0.1% | -1.1% | -1.7% | -1.0% | -2.7% | -2.8% | -2.7% | -1.8% | 0.0% | -0.3% | -0.6% | 2.1% | 3.0% | -0.2% | -1.1% | 1.2% | 5.4% | 7.1% | 7.9% | 12.9% |
| — | +102.9% | +60.9% | +37.3% | +46.4% | -6637.1% | -1016.7% | -324.1% | -187.3% | -98.6% | -35.7% | +42.2% | +71.1% | -45.0% | -102.6% | -114.1% | -90.7% | -36.7% | +382.1% | +618.3% | +2443.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.29 | 1.32 | 1.29 | 1.29 | 1.41 | 1.28 | 1.17 | 1.13 | 0.53 | 0.48 | 0.49 | 0.44 | 0.42 | 0.49 | 0.59 | 0.58 | 0.62 | 0.67 | 0.76 | 1.00 | 1.25 |
| — | +3.5% | +10.0% | +14.7% | +164.8% | +168.8% | +138.1% | +154.9% | +27.1% | -3.4% | -15.8% | -24.4% | -32.0% | -26.2% | -23.1% | -41.8% | -50.6% | -46.8% | -54.1% | -48.4% | -68.7% | |
| Debt / EBITDA | — | 27.91 | 149.29 | 314.27 | 71.78 | — | — | — | — | 14.99 | 19.08 | 26.59 | 6.02 | 5.43 | 21.61 | 73.47 | 10.55 | 4.28 | 3.60 | 4.28 | 2.83 |
| — | — | — | — | — | — | — | — | — | +176.1% | -11.7% | -63.8% | -42.9% | +26.8% | +499.5% | +1615.4% | +272.9% | +2.0% | -75.2% | -83.5% | -93.0% | |
| Current Ratio | 1.95 | 1.89 | 2.02 | 1.95 | 2.04 | 2.04 | 2.13 | 2.08 | 1.85 | 1.87 | 1.90 | 1.89 | 2.11 | 2.10 | 2.15 | 2.09 | 2.33 | 2.20 | 2.28 | 2.15 | 2.18 |
| — | -7.4% | -5.3% | -6.3% | +10.1% | +9.3% | +11.9% | +9.9% | -12.1% | -11.2% | -11.5% | -9.5% | -9.4% | -4.4% | -5.7% | -2.7% | +6.7% | -0.1% | +14.2% | +18.8% | +0.7% | |
| Quick Ratio | 0.50 | 0.63 | 0.64 | 0.50 | 0.61 | 0.61 | 0.64 | 0.55 | 0.55 | 0.60 | 0.59 | 0.62 | 0.71 | 0.72 | 0.73 | 0.65 | 0.78 | 0.75 | 0.80 | 0.69 | 0.81 |
| — | +4.6% | +0.2% | -7.7% | +11.2% | +1.0% | +7.0% | -12.0% | -22.8% | -16.0% | -18.4% | -4.0% | -8.3% | -4.4% | -8.8% | -6.7% | -3.5% | -2.6% | +21.5% | +37.9% | +17.3% | |
| Interest Coverage | -2.37 | 0.43 | -1.07 | -1.89 | -1.02 | -3.15 | -3.50 | -3.22 | -2.00 | 0.91 | 0.05 | -0.71 | 5.33 | 6.80 | 0.25 | -1.62 | 3.73 | 13.91 | 15.22 | 15.08 | 20.94 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying CLF stock.
Cleveland-Cliffs Inc.'s current P/E is -3.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Cleveland-Cliffs Inc.'s current operating margin is -7.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Cleveland-Cliffs Inc.'s business trajectory between earnings reports.